This commentary will focus on the first 60-90 minutes after the Opening Bell. However, our strategies can and will provide setups the entire trading day.
The Easiest Way To prepare for Scalp Trading the ES E-Mini Futures.
Price action continued to repeat the mini market cycles over the last few trading days and after-hours. Overnight price action found minor resistance and crossed below the 20MA with a series of lower highs and lower lows heading into the pre-market and opening bell. The 20MA continues to converge downward below the 200MA. Overnight price action retraced in pre-market and heading into the opening bell.
Pre-market Economic news and reports…
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After the opening bell, price action moved lower for a few minutes and reversed back above the 20MA and the opening bell. We patiently waited for confirmation of a higher low above the opening bell. We took an ultra-aggressive entry LONG based on the flag pattern breakout and price action went in our favor and we captured 2.0+ points profit.
Mini Market Cycles Analysis: